Please join the BBB, Dayton SCORE and Day Air Credit Union for…
SBA PPP Forgiveness Webinar
Tuesday, June 9, 8:30-9:30 a.m.
Join John Theobald, senior vice president – chief lending officer for Day Air Credit Union, as he shares best practices related to forgiveness of PPP, as well as walking participants through the forgiveness application process. In addition, he will address independent contractor status and the “75% payroll rule.”
Very brief overview:
History and purpose of the PPP
Who is able to receive a PPP?
The PPP Process: From application to forgiveness
How is a PPP submitted to the SBA?
How is it underwritten?
How is it funded?
Responsibility of Borrower
Explain the 75% payroll rule. (If it doesn’t change.) What if I am an independent contractor?
How will I find out if it has been forgiven?
Keep track of your spending during your eight-week loan term
Prepare your payroll report
Gather documentation for non-payroll expenses
Q & A
What kind of help should I expect from my financial institution in filling out the PPP Forgiveness application?
What are some of the changes being considered in simplifying the PPP Forgiveness application?
Is there still money available?
What is the relationship between a PPP and an EIDL?
What is being considered for Chambers of Commerce?
If previously laid off employees refuse to return to work, will that reduce the amount of loan forgiveness?
What if I already reduced my staff and/or their wages, can I still obtain forgiveness?
I got too much money for the PPP Loan. They calculated my loan on my gross figures from 1099s instead of line 31 on Schedule C that I provided with the loan application. What do I do now?
When do I have to start tracking the use of the PPP funds?
What if I don’t use the funds for payroll or rent, utilities or interest payments?
This event is free but registration is required.
This webinar will be held online via Zoom. You will receive a link to join the session as part of the confirmation email after registering: https://events.r20.constantcontact.com/register/eventReg?oeidk=a07eh4keavica6d7802&oseq=&c=&ch=